Solana-Based Digital Asset Products Cross $1B in YTD Inflows

Despite choppy market dynamics, institutional capital is showing no signs of slowing down its $SOL accumulation.

In the same week that REX-Osprey’s Solana Staking ETF enjoyed new all-time highs in trading volumes and AUM, Solana-based Digital Asset Products also recorded $1B in YTD inflows.

What could an $ETH-esque DAT bid mean for $SOL?

Solana ETPs Witness $176M in Weekly Inflows

As Bitcoin continues to flirt with new all-time highs and $SOL chops above and below $200, institutional players are steadily sponging up exposure to Solana. 

According to Coinshares data, Solana-based Digital Asset Products, like ETFs and ETPs, witnessed $176.5M in weekly inflows. This figure represents the second-highest weekly flow ever, trailing the $311M recorded in late July.

Last week’s trading also brought the total YTD inflows for Solana-based digital products to over $1B. Institutional appetite for $SOL over rival altcoins is palpable, with Solana’s YTD flows only 15.18% lower than that of XRP, despite $XRP having a 171% higher FDV.

Alongside surging inflows, trading volume in certain Solana-based products is also hitting all-time highs. REX-Osprey’s Solana Staking ETF, $SSK, closed last week’s trading with over $66M in daily volume, a figure almost double its launch day volume of $34M.

$SOL DATs Own 1.03% of Circulating Supply

Outside of the obvious avenues for institutional $SOL exposure, Solana-based DATs are steadily eating up more of $SOL’s supply. Solana Reserve data indicates that 1.03% of $SOL supply, currently valued at $1.08B is owned by Solana DATs.

$SOL accumulation by DAT is still relatively low compared to that of Bitcoin and Ethereum. While DATs hold around 1.03% of $SOL’s total supply, their Bitcoin and Ethereum counterparts hold around 3.38% and 2%, respectively. 

If Solana DATs were to replicate the demand shown by ETH DATs, markets could reasonably expect to see another $1B purchased off the market, bringing their share of the $SOL’s total supply up to 2%.

At press time, Upexi boasts the largest holdings among Solana-based DATs with 2M $SOL in its possession, accounting for 0.34% of market share across $SOL DATs.

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